POWERS OF ATTORNEY LAWYER IN CORPUS CHRISTI, TEXAS

A power of attorney is a useful legal tool for a wide range of situations. You are not limited to having just one type of power of attorney. Knowing which powers of attorney to establish and choosing the individuals who will act on your behalf can be a complicated process.  

It’s important to me that people know all of their options when it comes to setting up a power of attorney. I’m dedicated to helping my clients understand the considerations they should take into account as they make these significant decisions. At my firm, Russell Manning Law PLLC, I proudly represent clients in Corpus Christi, Texas, throughout South Texas, in the Coastal Bend areas, and in Bee County, Kleberg County, and Nueces County.

WHAT IS A POWER OF ATTORNEY?

Under Texas law, a power of attorney is a written document that authorizes a person, known as an agent, to make decisions and take actions on behalf of someone else, known as the principal. Sometimes the agent is also known as the attorney-in-fact. 

There are three key types of powers of attorney: general, durable, and limited.  

GENERAL POWER OF ATTORNEY

A general power of attorney is useful in many different situations. In business, it can allow an employee to act on behalf of their boss or client. A power of attorney is also useful if you need to be in one location while you need action to be taken (such as needing to sign a document) in another location. A general power of attorney expires when the principal becomes incapacitated. 

DURABLE POWER OF ATTORNEY

A durable power of attorney goes into effect when the principal becomes incapacitated. It may last after their incapacitation depending on the terms of the document. In general, a principal is considered incapacitated if a doctor finds that they are not able to manage their own finances.  

The durable power of attorney can last until the principal passes away or revokes the power of attorney if the conditions of termination of the power of attorney have been met, if a guardian is appointed for the principal, or if the agent’s authority is terminated under the law. 

LIMITED POWER OF ATTORNEY 

As the name implies, a limited power of attorney is limited to either a certain situation or a certain period of time. For example, the agent may be limited to only managing the principal’s retirement accounts or to only managing the sale of a home. 

WHY ARE POWERS OF ATTORNEY IMPORTANT?

A power of attorney is advantageous in a variety of situations, especially when the unexpected happens. It can be very convenient to have a power of attorney in place if you need to travel last minute. A power of attorney is also convenient if you do not wish to appear in person when buying or selling assets. If you fall ill or are in an accident, a power of attorney can be extremely helpful. 

CONSIDERATIONS WHEN CHOOSING AN AGENT

Trusting someone with your power of attorney is a significant decision to make. An experienced estate planning attorney can help you keep all considerations in mind as you make this important designation.  

Integrity is a key consideration when choosing your agent. It is paramount that you trust the individual that you designate. You may want to name your spouse or a family member as your power of attorney, or you may choose to designate different agents for different powers of attorney.